We believe this change will be meaningful to long-term earnings, and it shows how Ford CEO Jim Farley is taking no prisoners on his drive to profitability. Go to Source
Author: CNBC Online news
China’s electric vehicle battery supply chain shows signs of forced labor, report says
There are indications that Chinese companies that produce raw materials for EV batteries use forced labor, according to The New York Times. Go to Source
How the massive EV transition is starting in the car rental industry
Led by Hertz and Tesla, the race is on in the rental car industry to transition to EVs. Go to Source
Elon Musk had a bad week
In what’s been a particularly eventful year for Elon Musk, this was a decidedly rough week. Go to Source
GM is raising the price of its electric Hummer starting this weekend
GM is increasing the price of its EV Hummer by $6,250. Go to Source
Cost to finance a new car hits a record $656 per month — and auto shoppers could pay even more with latest Fed rate hike
As interest rates head higher and auto prices remain elevated, monthly payments are expected to continue squeezing consumers’ budgets. Go to Source
GM investing $81M to hand build ultra-exclusive Cadillac Celestiq electric cars
The decision marks the first time GM will build a vehicle for commercial sales at its massive tech campus in Warren, Michigan. Go to Source
Ford CFO says inflation has erased Mustang Mach-E profits, but isn’t hurting demand for new vehicles
Ford Motor’s CFO said Wednesday that the company isn’t yet seeing consumer demand for new vehicles drop off. Go to Source
Chinese Tesla rival Nio launches new electric SUV as competition heats up
Nio shares rose on Wednesday after the company unveiled the ES7 electric SUV which starts at 468,000 Chinese yuan ($69,693). Go to Source
U.S. safety agency says Tesla accounts for most driver-assist crashes, but warns data lacks context
Federal safety officials stressed that the data is not meant to portray whether one advanced driver-assist system is safer than another. Go to Source